Rio de Janeiro • 29. July 2021
+++Update on the PREVENT pilot project “Plastic Credits for inclusive and transparent circularity“+++
A major milestone has been reached with the registration of the 100th waste management project to the Circular Action Hub (CAH), an innovative platform launched 12 months ago by UK and Brazil based not-for-profit, BVRio. The project recovers plastic from the Amazon and from the surrounding environment.
A major milestone was reached this week with the registration of the 100th waste management project to the Circular Action Hub (CAH). This innovative platform was launched 12 months ago by BVRio and aims to connect projects providing important environmental waste recovery services with funders. The hub now contains projects from 40 countries.
The PREVENT Waste Alliance has provided funding to a number of projects on the hub. Elena Rabbow, PREVENT Secretariat, commented, “The CAH platform is accessible and easy to use. Its strength is the variety and the broad geographic distribution of the projects that are available on it.”
The 100th project added was AACEAM Ambiental, an association with around 70 waste pickers collecting plastics from Amazon rivers and other natural areas and recycling it. AACEAM mainly uses ferries, and processes some 600 tons of plastics per month. With further funding, the project aims to expand the activities to other municipalities, increasing, by up to 70%, the amounts collected and recycled.
Thierry Sanders, Director – Circular Action Hub, commented, “We’re thrilled that CAH has reached this milestone. This rapid growth shows both the quantity and quality of locally run, scalable, solid waste management initiatives across the world, and gives companies interested in reducing their plastic, and other waste footprint, a broad choice of the kinds of projects they want to support, through the different financial mechanisms we have incorporated within the platform. We have already seen investment in several projects, but there is more scope for the companies to directly fund these projects, which include some of the world’s poorest people clearing up the most polluted environments.”
Each of the projects registered in the CAH has its own dedicated webpage. Companies interested in reducing their plastic and other waste footprint can browse the platform and select the project(s) they wish to support. The platform facilitates access to new finance through different mechanisms such as Impact investment, blended finance instruments, grants, 3RI’s Plastic Credits, and performance-based payments such as Circular Credits™.
Find out more about the PREVENT pilot project “Plastic Credits for inclusive and transparent circularity“.
(c) Picture: AACEAM Ambiental